DRDGOLD Limited (NYSE:DRD) Short Interest Update

DRDGOLD Limited (NYSE:DRD) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 624,355 shares, a decrease of 29.7% from the November 30th total of 887,697 shares. Based on an average daily trading volume, of 417,847 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.7% of the shares of the stock are short sold. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 417,847 shares, the days-to-cover ratio is presently 1.5 days.

DRDGOLD Stock Performance

Shares of DRDGOLD stock traded down $0.30 during mid-day trading on Wednesday, hitting $30.93. The stock had a trading volume of 198,185 shares, compared to its average volume of 533,078. The firm has a 50-day moving average of $28.51 and a two-hundred day moving average of $22.45. DRDGOLD has a 12-month low of $8.58 and a 12-month high of $34.80.

Wall Street Analysts Forecast Growth

DRD has been the topic of a number of recent research reports. Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Wall Street Zen upgraded DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th. HC Wainwright upped their price target on DRDGOLD to $36.25 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.25.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRD. Farther Finance Advisors LLC increased its stake in DRDGOLD by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 792 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of DRDGOLD in the third quarter valued at approximately $102,000. EverSource Wealth Advisors LLC grew its holdings in shares of DRDGOLD by 24.8% in the third quarter. EverSource Wealth Advisors LLC now owns 5,387 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 1,070 shares in the last quarter. GAMMA Investing LLC increased its stake in DRDGOLD by 29.7% during the 2nd quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock worth $86,000 after buying an additional 1,469 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in DRDGOLD by 26.7% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 6,650 shares of the basic materials company’s stock worth $184,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.